IShares Select Correlations

DVY Etf

USD 134.80 0.88 0.66%

The current 90-days correlation between iShares Select Dividend and iShares Preferred and is 0.39 (i.e., Weak diversification). The correlation of IShares Select is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Select Correlation With Market

Weak diversification

The correlation between iShares Select Dividend and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Select Dividend and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in iShares Select Dividend. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with IShares Etf

0.95	VTV	Vanguard Value Index	Pair Corr
0.93	VYM	Vanguard High Dividend	Pair Corr
0.98	IWD	iShares Russell 1000	Pair Corr
0.93	DGRO	iShares Core Dividend	Pair Corr
0.96	IVE	iShares SP 500	Pair Corr
0.96	SPYV	SPDR Portfolio SP	Pair Corr
0.92	FVD	First Trust Value	Pair Corr
0.97	IUSV	iShares Core SP	Pair Corr
0.82	NOBL	ProShares SP 500	Pair Corr
0.61	PMBS	PIMCO Mortgage Backed	Pair Corr
0.68	CEFD	ETRACS Monthly Pay	Pair Corr
0.61	IYG	iShares Financial	Pair Corr

Moving against IShares Etf

0.49	BNO	United States Brent	Pair Corr
0.38	XONE	Bondbloxx Bloomberg One	Pair Corr
0.33	BILS	SPDR Series Trust	Pair Corr
0.49	GSG	iShares SP GSCI	Pair Corr
0.38	BCD	abrdn Bloomberg All	Pair Corr
0.37	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.35	ICSH	iShares Ultra Short	Pair Corr

Related Correlations Analysis

	SDY	VIG	HDV	PFF	IDV
SDY		0.72	0.96	0.89	0.74	SDY
VIG	0.72		0.68	0.51	0.3	VIG
HDV	0.96	0.68		0.84	0.66	HDV
PFF	0.89	0.51	0.84		0.84	PFF
IDV	0.74	0.3	0.66	0.84		IDV
	SDY	VIG	HDV	PFF	IDV

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IShares Select Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Select ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IShares Select's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SDY	0.52	(0.09)	(0.29)	0.91	(0.90)	3.75
VIG	0.53	(0.01)	(0.05)	1.02	(1.25)	5.04
HDV	0.53	(0.05)	(0.19)	0.95	(1.04)	3.27
PFF	0.44	(0.06)	(0.23)	0.91	(0.98)	2.51
IDV	0.61	(0.08)	(0.69)	1.08	(1.61)	3.66

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